Funding you earn now, next payment 06:00 UTC−0.1523%/8h= −166.7% APRpaid last 24h −0.259%
Price spread now: Injective against Orderly+2.068%58s7-day average −0.287% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.426%−$43 on $10k
+Price spread, last 4 days (all we have)−1.112%−$111 · spread now +2.068%, 7d avg −0.287%
=The price spread pays, funding is against you. Injective is 2.355% dearer against Orderly than usual: you sell high and buy low (spread +2.068% now, against its 7-day average of −0.287%): +$235 on $10k if it goes back. Holding the pair costs −$46 a day in funding at the current rate, which eats that in about 5.2 days. At the pace of the last 7 days (−0.426% in total) that is about 39 days. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.426% in total (about -22.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_AVAX_USDC | 10.542 | 0.0100 | pay 0.0100% / 8h | 2h 22m | $167K | $300K | 20x |
| Short | Injective AVAX/USDC PERP | 10.760 | −0.1423 | pay 0.0178% / 1h | 22m 10s | $17K | $152K | 12x |
Orderly PERP_AVAX_USDC
Injective AVAX/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Orderly. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$319.79
- Price spread: +2.068% → −0.287%
- $235.5
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$90.31
- Costs to cover
- 0.060%
- Break-even
- from the start
Slippage unknown: Orderly: no order-book sample; Injective: live order book, 27 min ago. Net counts fees only.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Orderly no order-book sample | — | — | — | — | — |
| Sell Injective live order book, 27 min ago | 42.47 bp | 42.5 bp −$42 | doesn't fit | doesn't fit | doesn't fit |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
AVAX on 36 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective AVAX/USDC PERPshort | −0.1423% | 1h | 10.760 | +2.068% | $17K | $152K | 12x | |
| Kraken Futures PF_AVAXUSD | −0.0283% | 1h | 10.548 | +0.057% | $4.2M | $11.5M | 50x | as long as short |
| Nado AVAX-PERP | −0.0049% | 1h | 10.537 | −0.052% | $287K | $339K | 10x | as long as short |
| Variational Omni AVAX | −0.0017% | 8h | 10.535 | −0.069% | $2.7M | $2.2M | — | as long as short |
| dYdX AVAX-USD | 0.0000% | 1h | 10.528 | −0.129% | $87K | $117K | 10x | as long as short |
| Deribit AVAX_USDC-PERPETUAL | 0.0000% | 1h | 10.541 | −0.009% | $4.7M | $7.5M | 25x | as long as short |
| gTrade (Gains Network) AVAX/USD | L +0.0002% / S −0.0003% | 1h | 10.537 | −0.045% | $12K | — | 150x | as long as short |
| Backpack AVAX_USDC_PERP | +0.0013% | 1h | 10.523 | −0.180% | $366K | $563K | 15x | as long as short |
| Gate AVAX_USDT | +0.0020% | 8h | 10.537 | −0.047% | $12.2M | $32.7M | 75x | as long as short |
| Bybit AVAXUSDT | +0.0070% | 8h | 10.538 | −0.038% | $77.8M | $145.0M | 75x | as long as short |
Kraken Futures PF_AVAXUSD
Nado AVAX-PERP
Variational Omni AVAX
dYdX AVAX-USD
Deribit AVAX_USDC-PERPETUAL
gTrade (Gains Network) AVAX/USD
Backpack AVAX_USDC_PERP
Gate AVAX_USDT
Bybit AVAXUSDTShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Polymarket Perps AVAX-USD | +0.0089% | 1h | 10.539 | −0.028% | $131K | $354K | 10x | as long as short |
| Lighter AVAX | +0.0096% | 1h | 10.542 | 0.000% | $1.1M | $2.6M | 10x | as long as short |
| Popdex AVAXUSDT | +0.0096% | 1h | 10.540 | −0.019% | $18K | $437K | 50x | as long as short |
| Paradex AVAX-USD-PERP | +0.0096% | 8h | 10.530 | −0.118% | $12K | $212 | 20x | as long as short |
| Hyperliquid AVAX | +0.0100% | 1h | 10.546 | +0.038% | $37.8M | $44.0M | 10x | as long as short |
| Aster AVAXUSDT | +0.0100% | 8h | 10.541 | −0.011% | $2.1M | $1.1M | 75x | as long as short |
| Pacifica AVAX | +0.0100% | 1h | 10.537 | −0.051% | $265K | $130K | 10x | as long as short |
| Binance AVAXUSDT | +0.0100% | 8h | 10.547 | +0.048% | $112.3M | $430.9M | 75x | as long as short |
| OKX AVAX-USDT-SWAP | +0.0100% | 8h | 10.545 | +0.028% | $18.5M | $111.5M | 50x | as long as short |
| MEXC AVAX_USDT | +0.0100% | 8h | 10.548 | +0.057% | $43.6M | $80.3M | 200x | as long as short |
| KuCoin AVAXUSDTM | +0.0100% | 8h | 10.541 | −0.009% | $13.1M | $22.8M | 75x | as long as short |
| Bitget AVAXUSDT | +0.0100% | 8h | 10.540 | −0.019% | $32.0M | $49.5M | 75x | as long as short |
| BingX AVAX-USDT | +0.0100% | 8h | 10.537 | −0.047% | — | $54.2M | — | as long as short |
| GRVT AVAX_USDT_Perp | +0.0100% | 8h | 10.547 | +0.047% | $338K | $978K | 10x | as long as short |
| ApeX Omni AVAXUSDT | +0.0100% | 1h | 10.559 | +0.161% | $170K | $662K | 50x | as long as short |
| Orderly PERP_AVAX_USDClong | +0.0100% | 8h | 10.542 | long leg | $167K | $300K | 20x | |
| SunX AVAX-USDT | +0.0100% | 8h | 10.569 | +0.261% | $11K | $758K | 20x | as long as short |
| SoDEX AVAX-USD | +0.0100% | 1h | 10.543 | +0.009% | $17K | $72K | 10x | as long as short |
| HTX AVAX-USDT | +0.0100% | 8h | 10.550 | +0.080% | $343K | $804K | 75x | as long as short |
| Phemex AVAXUSDT | +0.0100% | 8h | 10.542 | 0.000% | $28.1M | $5.8M | 50x | as long as short |
| Extended AVAX-USD | +0.0104% | 1h | 10.538 | −0.041% | $634K | $1.4M | 25x | as long as short |
| Aevo AVAX-PERP | +0.0104% | 1h | 10.540 | −0.022% | $242K | — | 3x | as long as short |
| Coinbase International AVAX-PERP-INTX | +0.0216% | 1h | 10.545 | +0.028% | $835K | $4.8M | 50x | as long as short |
| BloFin AVAX-USDT | +0.0220% | 8h | 10.532 | −0.095% | $4.6M | $5.6M | 100x | as long as short |
| Reya AVAXRUSDPERP | +0.0245% | 1h | 10.536 | −0.058% | $1K | — | 20x | as long as short |
| GMX AVAX/USD [AVAX-USDC] | L +0.0444% / S −0.0271% | 1h | 10.536 | −0.060% | $230K | — | 120x | as long as short |
Polymarket Perps AVAX-USD
Lighter AVAX
Popdex AVAXUSDT
Paradex AVAX-USD-PERP
Hyperliquid AVAX
Aster AVAXUSDT
Pacifica AVAX
Binance AVAXUSDT
OKX AVAX-USDT-SWAP
MEXC AVAX_USDT
KuCoin AVAXUSDTM
Bitget AVAXUSDT
BingX AVAX-USDT
GRVT AVAX_USDT_Perp
ApeX Omni AVAXUSDT
SunX AVAX-USDT
SoDEX AVAX-USD
HTX AVAX-USDT
Phemex AVAXUSDT
Extended AVAX-USD
Aevo AVAX-PERP
Coinbase International AVAX-PERP-INTX
BloFin AVAX-USDT
Reya AVAXRUSDPERP
GMX AVAX/USD [AVAX-USDC]